Broadridge Financial Solutions, Inc. (NYSE:BR) Receives Average Rating of “Hold” from Analysts

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $213.33.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Insider Activity

In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is owned by company insiders.

Institutional Trading of Broadridge Financial Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in Broadridge Financial Solutions by 5.3% in the 4th quarter. Private Advisor Group LLC now owns 4,326 shares of the business services provider’s stock valued at $890,000 after purchasing an additional 217 shares during the period. BNP Paribas Financial Markets increased its stake in Broadridge Financial Solutions by 31.2% during the 4th quarter. BNP Paribas Financial Markets now owns 62,481 shares of the business services provider’s stock worth $12,855,000 after acquiring an additional 14,868 shares during the period. QRG Capital Management Inc. raised its holdings in Broadridge Financial Solutions by 30.7% in the 4th quarter. QRG Capital Management Inc. now owns 4,059 shares of the business services provider’s stock valued at $835,000 after acquiring an additional 954 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Broadridge Financial Solutions by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 880,395 shares of the business services provider’s stock valued at $181,142,000 after acquiring an additional 33,101 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Broadridge Financial Solutions by 25.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,312 shares of the business services provider’s stock worth $1,093,000 after purchasing an additional 1,076 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $208.99 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions has a 52-week low of $166.73 and a 52-week high of $223.81. The business has a 50 day simple moving average of $210.29 and a 200 day simple moving average of $203.28. The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 35.66 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $3.21 earnings per share. Analysts anticipate that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.